Profit before tax (PBT) increased 43.77% YoY to Rs 177.56 crore during the quarter.
EBITDA jumped 16.87% to Rs 175.62 crore in Q2 FY25 as compared with Rs 150.27 crore posted in same quarter last year.
Exports fell marginally 0.12% to Rs 652.97 crore during the quarter from 653.77 crore posted in Q2 FY24.
Ferro Chrome production rose 2.17% to 68,248 tonnes in Q2 FY25 as compared with 66,796 tonnes in Q2 FY24 while Ferro Chrome sales marginally declined 0.74% to 66,951 tonnes in Q2 FY25 from 67,448 tonnes in Q2 FY24.
Revenue from power generation declined 6.42% to 277 million units in Q2 FY25 from 296 million units in Q2 FY24.
Revenue from chrome ore stood at 104,327 tonnes in Q2 FY25, down 21.95% as compared with 133,666 tonnes in Q2 FY24.
Subhrakant Panda, Managing Director,said, “Higher output, continued focus on operating efficiency, and stable input costs and selling prices have led to improved margins in the second quarter results. On the global front, demand for stainless steel has marginally dropped largely due to economic uncertainty. However, the long awaited stimulus measures announced in China coupled with the recent uptick in PMI are positive signs for the metals sector in general.”
He added, “Domestic ferro chrome prices have softened recently, making it unviable for non-integrated producers. In this context, access to captive ore and a debt-free Balance Sheet give us confidence and we are focused on leveraging it to register superior performance.”
Meanwhile, the company’s board has declared an interim dividend of Rs 10 per share for FY25. The record date for the said dividend shall be Friday, 15 November 2024. The interim dividend will be paid to such shareholders on or before Saturday, 7th December 2024.
Indian Metals & Ferro Alloys primarily produces ferro alloys, including charge chrome (high carbon ferro chrome), and has an installed furnace capacity of 190 MVA (284,000 MTPA) in its two plant sites at Therubali and Choudwar, in Odisha.